Insurance

What is a Premium?

Premium

[pree-mee-uh m]

noun

1.

A Premium is the payment made to the insurance company, either monthly or in a lump sum, to purchase insurance. The Premium does not include other costs like copays or deductibles.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Protection Against Uninsured Drivers

Protection Against Uninsured Drivers

You’re hit by an uninsured driver. Now what? Are you protected against financial losses?

Life Insurance for Young Adults

Life Insurance for Young Adults

Getting Life Insurance before 40 isn’t as uncommon as you think. Find out why this can be a super smart decision for just about anyone.

What is a Homeowners Insurance Policy?

What is a Homeowners Insurance Policy?

Do you know what a Homeowners Insurance Policy is?